There is no doubt that the housing market has recovered from the meltdown that occurred just a few short years ago
However, in some states home values still have not returned to the prices we saw in 2006 and 2007. Here is a breakdown showing where current prices are in each state as compared to peak prices.
According to Freddie Mac’s latest U.S. Economic & Housing Market Outlook, U.S. home sales in 2015 will show increase to the numbers associated with a normal real estate market. Here is their projection:
“We are projecting a 4 percent rise in sales to 5.6 million, which would mark the highest level of annual sales since 2007.”
And their optimism was seconded by both the National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA).
It seems that an improving economy and jobs market will mean a very healthy housing market.
Gena Glaze
IN A NUT SHELL: Availability of mortgage credit has increased, The minimum credit scores needed to qualify for a mortgage has decreased and Mortgage Rates are Predicted to Rise!
Nexton’s Brighton Park Village is scheduled for a grand opening this spring. Below are the homebuilders and collections that have just been announced;
One Step Closer!
Filed under Home Buying (For Buyers), Places, Properties, Stories, News & Events
During the financial crises The Fed began buying long-term securities — Treasury bonds and mortgage-backed securities — which helped reduce long-term rates, especially mortgage rates. The Federal Reserve has just announced that they will end bond purchases but pledged to keep it’s benchmark short-term interest rate near zero for a “considerable time”.
Filed under Home Buying (For Buyers), Mortgage Info
We are proudly participating in the U.S. Military On the Move™ program that offers discounts to Military members.
MEMBERS THAT QUALIFY FOR DISCOUNT; 1.All active duty military personnel of all the armed forces and Coast Guard 2. All retired military personnel (20 years) 3. All military personnel designated as wounded warriors status
BENEFIT; The discount is 20% of commissions earned on the functional side of which the member participates. The discount is typically in the form of a cash rebate (depending on the lender’s guidelines) and Qualified Sellers may opt for a reduction in the list commission.
EXAMPLE; If a qualified member purchased a $200,000 home and the “buy-side” of the commission was 3%, the member would receive a $1,200 reward. Alternatively, If a qualified seller sold their home for $200,000, they could feasibly save $1.200 on the listing commission.
This is an awesome reward for military members!
We are proud to support our military! Please contact us for more information.
Looking for an Executive-style home in a Gated Community in the North Area? ….Surprise, It’s tucked away in GOOSE CREEK!
This gated community is located off Welchman Ave. within The Hamlets of Crowfield Plantation. It is a small community of approximately 66 home-sites, surrounded by the golf course with one gated entrance. Homeowners have a code and remote control to operate the private gate. The homes in this neighborhood have brick exteriors and crawl space construction; one story homes are required to have a minimum of 2500 sqft and there is a 3000 sqft minimum requirement for two-story homes. This is a beautiful neighborhood with many custom homes!
The community also enjoys the amenities of Crowfield Plantation; pools, parks, tennis, clubhouse, hiker-biker trails, lake, docks, and RV / Boat storage. There is also a public golf course within the community!
Click To View Homes Available FOR SALE in This Gated Community!
Gated Communiy – The Hamlets – Crowfield Plantation – Goose Creek
We are always available to assist you with your Real Estate Needs! EMAIL ME!
Filed under Home Buying (For Buyers), Places, Properties
The Real Estate activity remains very strong in Cane Pay Plantation and, to add to the desirability, the community will soon have a new phase featuring waterfront properties
WE ARE ALWAYS AVAILABLE TO ASSIST YOU WITH THE PURCHASE OF A HOME!
Filed under Home Buying (For Buyers), Places
Berkeley County Activity Leads to Increased Home Sales in March
CHARLESTON, SC— According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,110 homes sold at a median price of $219,316 in March. Last March, 1,075 homes sold at a median price of $200,789 in the region.
Inventory increased significantly in March–there are currently 5,873 homes listed as ‘active’ for sale in the Charleston Trident Multiple Listing Service (CTMLS). Last March there were 5,745 homes available and last month, 5,565. A growing inventory will supply interested buyers with more choices and keep prices from inflating on an unrealistic basis.
“As the spring buying season begins, the expected trend has continued—a small but sustainable increase in sales” said 2014 CTAR President Corwyn Melette. “The additional inventory will result in more interested buyers and help keep our market stable over the next few months. The substantial sales gains this month in Berkeley County were supported by a concentration of activity in the new Cane Bay Plantation and Daniel Island as well” said Melette.
February Adjustment
Preliminary data reported for February 2014 indicated that 791 homes sold at a median price of $210,000. Adjusted figures now show 813 homes sold a median price of $207,000.
Berkeley County
248 homes sold at a median price of $176,601 in Berkeley County in March. Last March, 201 homes sold at a median price of $168,000. The most active area in the county was in the North area bordered by Jedburg Road, Highway 17A and College Park, with 59 sales at a median price of $171,500.
Charleston County
In Charleston County in March, 626 homes sold at a median price of $280,000. Last March, 649 homes sold at a median price of $245,000. 210 homes sold in Mt. Pleasant at a median price $390,633. Other top areas were West Ashley (outside I526) with 77 sales at a median price of $219,000 and North Charleston (outside I-526) with 64 sales at a median price of $131,295.
Dorchester County
191 homes sold at a median price of $159,000 in March in Dorchester County. Last March, 189 homes sold at a median price of $162,500. The most active area was Summerville/Ridgeville, where 85 homes sold at a median price of $173,000.
-Market Reports from Charleston Trident Association of Realtors
Crew on March 26, 2014
“One thing seems certain: we aren’t likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012.”
– Freddie Mac, March 24, 2014
There are those that hope that 30-year mortgage interest rates will head back under 4%. Obviously, for any prospective home purchaser that would be great news. However, there is probably a greater chance that interest rates will return to the greater than 6% rate of the last decade before they would return to theless than 3.5% rate of 2012.
Freddie Mac, in one of four original posts on their new blog, explained that current rates are still extremely low compared to historic averages:
“The all-time record low – since Freddie Mac began tracking mortgage rates in 1971 – was 3.31% in November 2012. Conversely, the all-time record high occurred in October of 1981, hitting 18.63%. That’s more than four times higher than today’s average 30-year fixed rate of 4.32% as of March 20…rates hovering around 4.5% may be high relative to last year, but something to celebrate compared to almost any year since 1971.”
If you are thinking of buying a home, waiting for a dramatic decrease in mortgage rates might not make sense.
Real Estate Matters in Charleston SC - Gena Glaze 